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What is Wallerstein about?

World system theory was introduced in the mid-1970s by Immanuel Wallerstein as a continuation of debates around modernization and dependency theory. According to Wallerstein, the modern world operates as a capitalist economic system divided into three classes: core, semi-periphery, and periphery. States can move between these classes over time. The theory views the global economy as unequally developed and influenced by the relationship between capital and labor.

Author

Eben Haezer

Language

EN